Paul Krugman: Bailouts, Austerity Polices Amount To 'Abject Failure'

10/28/2011 08:40 am ET | Updated Mar 02, 2012
  • PAUL KRUGMAN New York Times

Financial markets are cheering the deal that emerged from Brussels early Thursday morning. Indeed, relative to what could have happened — an acrimonious failure to agree on anything — the fact that European leaders agreed on something, however vague the details and however inadequate it may prove, is a positive development.

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